Per Share Information

9 Months Ended

Jun. 30, 2014

Per Share Information [Abstract]

Per Share Information

4. PER SHARE INFORMATION

The following table reconciles the components of the basic and diluted earnings (loss) per share for the three and nine months endedJune 30, 2014 and 2013:

	Three Months Ended June 30,
	2014		2013
Numerator:
Net earnings (loss) from continuing operations attributable to common shareholders	$	2,785	$	(725)
Net earnings from continuing operations attributable to restricted shareholders		10		-
Net earnings (loss) from continuing operations		2,795		(725)
Net loss from discontinued operations attributable to common shareholders		(122)		(413)
Net loss from discontinued operations		(122)		(413)
Net earnings (loss) attributable to common shareholders		2,663		(1,138)
Net earnings attributable to restricted shareholders		10		-
Net earnings (loss)	$	2,673	$	(1,138)
Denominator:
Weighted average common shares outstanding — basic		18,464,933		15,445,606
Effect of dilutive stock options and non-vested restricted stock		56,695		-
Weighted average common and common equivalent shares outstanding — diluted		18,521,628		15,445,606
Basic earnings (loss) per share:
From continuing operations	$	0.15	$	(0.05)
From discontinued operations		(0.01)		(0.02)
Basic earnings (loss) per share	$	0.14	$	(0.07)
Diluted earnings (loss) per share:
From continuing operations	$	0.15	$	(0.05)
From discontinued operations		(0.01)		(0.02)
Diluted earnings (loss) per share	$	0.14	$	(0.07)

	Nine Months Ended June 30,
	2014		2013
Numerator:
Net earnings (loss) from continuing operations attributable to common shareholders	$	3,490	$	(1,034)
Net earnings from continuing operations attributable to restricted shareholders		16		-
Net earnings (loss) from continuing operations		3,506		(1,034)
Net loss from discontinued operations attributable to common shareholders		(313)		(697)
Net loss from discontinued operations		(313)		(697)
Net earnings (loss) attributable to common shareholders		3,177		(1,731)
Net earnings attributable to restricted shareholders		16		-
Net earnings (loss)	$	3,193	$	(1,731)
Denominator:
Weighted average common shares outstanding — basic		18,450,935		15,388,997
Effect of dilutive stock options and non-vested restricted stock		59,049		-
Weighted average common and common equivalent shares outstanding — diluted		18,509,984		15,388,997
Basic earnings (loss) per share:
From continuing operations	$	0.19	$	(0.07)
From discontinued operations		(0.02)		(0.04)
Basic earnings (loss) per share	$	0.17	$	(0.11)
Diluted earnings (loss) per share:
From continuing operations	$	0.19	$	(0.07)
From discontinued operations		(0.02)		(0.04)
Diluted earnings (loss) per share	$	0.17	$	(0.11)

For the nine months endedJune 30, 2014, 150,000 stock options were excluded from the computation of fully diluted earnings per sharebecause the exercise prices of the options were greater than the average price of our common stock. For the three months endedJune 30, 2014 the average price of our common shares exceeded the exercise price of our options.

When an entity has a net loss from continuing operations, it is prohibited from including potential common shares in the computation of diluted per-share amounts.  Accordingly, we have utilized the basic shares outstanding amount to calculate both basic and diluted loss per share for the three and nine months endedJune 30, 2013.

On August 7, 2014, we completed a rights offering of common stock to our stockholders at a subscription price that was lower than the market price of our common stock at closing of the offering. For information on the rights offering, please see “Note 15 – Subsequent Events.” The rights offering was deemed to contain a bonus element that is similar to a stock dividend requiring us to adjust the weighted average number of common shares used to calculate basic and diluted earnings per share in prior periods retrospectively by a factor of 1.0340. Weighted average shares for the three months endedJune 30, 2013 prior to giving effect to the rights offering were 14,937,434. Weighted average shares for the nine months endedJune 30, 2013 prior to giving effect to the rights offering were 14,882,687. For the three months endedJune 30, 2014basic weighted average shares were 17,857,422, and diluted weighted average shares were 17,912,252prior to giving effect to the rights offering.For the nine months endedJune 30, 2014 basic weighted average shares were 17,843,885, and diluted weighted average shares were 17,900,991 prior to giving effect to the rights offering.